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by Stockwatch Business Reporter
The TSX Venture Exchange gained 6.40 points to 651.35 Friday, ending the week up 7.77 points. Jonathan Younie's first capital pool shell, Baetis Ventures Ltd. (BATS: halted), has submitted a filing statement for its qualifying transaction, which is the acquisition of RE Royalties Ltd. The shell will roll back 1 for 3, leaving it with 1,333,333 shares issued, then issue 17,350,189 shares to its target's shareholders.
RE Royalties invests in renewable energy projects in exchange for royalties. Its portfolio comprises: the 102-megawatt Bear Mountain wind farm near Dawson Creek, B.C.; six wind, hydro and solar projects totalling 38.7 MW in Romania; and four solar projects totalling 332 MW in Texas. The projects in Canada and Romania are operational, while the ones in Texas are scheduled to begin operations in late 2019.
RE Royalties acquired all the Romanian interests in January, 2017, from Transeastern Power Trust. In December, 2017, Transeastern decided to expand its business to include bitcoin mining, which at the time was far more promotable than renewable energy. Its stock climbed to 93 cents from 33 cents. In January, 2018, Transeastern changed its name to Blockchain Power Trust (BPWR: $0.11). Earlier this week, however, the trust announced its intention to "pause" its bitcoin mining operations and shift its focus back to renewable energy.
The word "pause" usually implies temporary and that whatever has been paused will soon get going again. Should the renewed focus on renewable energy succeed, the resumption of bitcoin mining pause will likely be a perma-pause.
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